To start a corporation or limited liability company (LLC) in Los Angeles, you must formally register with the state. But this is just the first step.
Within 90 days of filing Articles of Incorporation, you must also file a Statement of Information with the California Secretary of State. This document shows basic information about your company. It’s the equivalent of a biannual or annual report.
Keep reading to learn more about filing a Statement of Information in Los Angeles and how to do it the quick and easy way.
Who must file a Statement of Information?
California requires in-state and qualified out-of-state for-profit corporations, non-profit corporations, professional corporations, and limited liability companies (LLCs) to file a Statement of Information.
You have 90 days from the date of submitting your Articles of Incorporation to hold your first board meeting (corporations), make decisions about how you will run your company, and file a California Statement of Information with the Secretary of State.
Then, every year or two (depending on the type of business entity you have), you’ll need to keep the state updated about any changes. If there are no changes between Statement of Information filings, you may be able to submit a “no change” filing.
A Statement of Information keeps you in good standing with the California Secretary of State. Filing is not optional. If you don’t submit your Statement of Information when required, you could face fines and even have your business operations suspended or forfeited.
What information do I need to provide?
The information required on a Statement of Information varies slightly based on the type of entity you have. In general, you’ll need to provide:
- The exact registered name of the business
- The Secretary of State File Number of the business (7 or 12 digits)
- Street address of the business (and mailing address, if different)
- Name and address of Chief Executive Officer
- Name and address of other officers (corporations) or managers/members (LLCs)
- Name and address of the California Agent for Service of Process
- Name and address of the director (Stock and Agricultural Cooperative Corporations only)
- A brief description of the type of business or services
When do I have to file?
If you’ve just formed your business, your first Statement of Information is due within 90 days of filing Articles of Incorporation. After that, the filing schedule depends on the type of business structure you have.
- Corporations are required to file every year during a specific six-month filing window, which is based on the original date of registration.
- LLCs are required to file every 2 years during a specific six-month filing window, which is based on the original date of registration.
You will need to submit your Statement of Information within the filing window that applies to your business.
What happens if I don’t file?
Not filing a Statement of Information in California can lead to serious penalties, including fines and suspension or forfeiture of your business. The fine for exempt organizations is $50, or $250 for non-exempt organizations.
If the Secretary of State were to place your business in suspended or forfeited status, your company would no longer be able to conduct business in California. Your business also wouldn’t be able to sue in a California court or defend itself against a lawsuit.
Do I need a lawyer to file a California Statement of Information?
You don’t need a lawyer to complete and file your Statement of Information in California. But mistakes or missing information can lead to costly delays and penalties.
It’s a good idea to get help completing the form if you’re unclear about how to fill it out or if you have limited time.
Let FastFilings Help with Your Statement of Information in Los Angeles
A Statement of Information is a straightforward document, but it must be filled out accurately and exactly as indicated.
For example, something as simple as abbreviating the name of the city or accidentally providing an incomplete address could render the form invalid.
Don’t take chances. Failing to submit your Statement of Information correctly and on time can lead to serious penalties. FastFilings can help you complete your required Statement of Information in Los Angeles in just minutes.
You simply enter some basic business information into our online form, and we’ll take it from there. We serve businesses throughout the Greater Los Angeles area, including Irvine, Huntington Beach, Riverside, Santa Clarita, and Long Beach.
Filing on time will keep you in good standing with the California Secretary of State so you can focus on what matters: running your business.